Jakarta - To boost revenue amid the COVID-19 pandemic, PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) focuses on the cargo flight segment.

"During the COVID-19 pandemic, the company recorded the conversion of passenger aircraft into cargo, such as Citilink's Boeing 737-500. We will strengthen penetration into the private jet segment to the defense industry to increase revenue," said President Director of Garuda Maintenance Facility Aero Asia Andi Fahrurrozi at a public expose on Friday (27/8).

According to Andi, in 2020, his party will obtain a maintenance contract for presidential aircraft to the Indonesian Air Force.

"As for the aviation segment, the company has started to develop its business to maintain or repair generators, power plants, and motors owned by energy and oil and gas companies. GMF obtained cooperation contracts with Pertamina, PLN, to KCI," he explained.

In 2020, GMF still posted a net loss of US$328.8 million or Rp4.7 trillion (assuming an exchange rate of Rp 14,500/US$). The loss was due to GMF's revenue plummeting 51% to US$253.8 million in 2020 From US $ 519.95 million in 2019.